Economy Laundry Company had the following transactions in August:

Aug. 1 Issued capital stock for cash, $ 150,000.

3 Borrowed $ 40,000 from the bank on a note.

4 Purchased cleaning equipment for $ 25,000 cash.

6 Performed services for customers who promised to pay later, $ 16,000.

7 Paid this months rent on a building, $ 2,800.

10 Collections were made for the services performed on August 6, $ 3,200.

14 Supplies were purchased on account for use this month, $ 3,000.

17 A bill for $ 400 was received for utilities for this month.

25 Laundry services were performed for customers who paid immediately, $ 22,000.

31 Paid cash dividend, $ 2,000.

Required:

Prepare journal entries for these transactions.